Vice-Premier Li Keqiang said in a speech to the World Economic Forum in Davos on Thursday that the Chinese economy had rebounded after steps taken to deal with the financial crisis but the government needed to stick with its moderately easy monetary policy.
"There still remain many uncertainties in (the) domestic and external economic environment," said Li. "To tackle these problems, we will keep continuity and stability of our macro economic policies, continue to follow a proactive fiscal policy and moderately easy monetary policy."
The US dollar index, which tracks the currency's performance versus a basket of six major currencies, hit an intraday high of 79.156 on Friday, its highest since August 19. Spot yuan finished at 6.8268 to the dollar, little changed from Thursday's close of 6.8269.